Michael Kim Acquires Multifamily Property In San Jose For $9.1M
SOLD
California
See Similar DealsMultiFamily15,056 SF
Sold 01/27/2022
SOLD
Michael Kim Acquires Multifamily Property In San Jose For $9.1M
51 Glen Eyrie Avenue, San Jose, California 95125, United States
See Similar DealsMultiFamily15,056 SF
Sold 01/27/2022
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$603
Total Square Footage:15,056 SF
Transaction Type:Sale
The multifamily property located at 51 Glen Eyrie Ave in San Jose, CA was recently sold in a closed transaction. The property spans a total of 15,056 square feet and was sold for a price of $9,088,000, resulting in a price per square foot of $603.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $9,088,000
- Address: 51 Glen Eyrie Ave
- Market: San Jose, CA
- Square Footage: 15,056
- Buyer: Michael Kim
- Seller: John Peterson & Jamie D'Alessandro
Michael Kim emerged as the buyer in this transaction, while John Peterson & Jamie D'Alessandro acted as the sellers. The deal represents a significant investment in the multifamily property market in San Jose, CA.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$484,693.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$32,287.76
Cash-on-Cash Return-1.27%
Monthly Debt Service$43,081.76
Annual Debt Service$516,981.08
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